Many have heard about Xiaomi for the first time when Hugo Barra, former VP at Google, announced that he was going to join the company, probably in order to help the Chinese brand expand globally. Despite being a very young company, founded in April, 2010, Xiaomi is already valued at more than ten billion dollars.

While the tech world is now focused on what is happening at the IFA tech show in Berlin, Xiaomi’s CEO Lei Jun, announced today their latest flagship smartphone — the Xiaomi Mi-3. Having a cheaper price than the competition, with somewhat similar premium specifications, Xiaomi is continuing their march in the smartphone market.

Technical specifications and features that Xiaomi MiPhone 3 comes with

The smartphone comes in two version: the China Unicom one runs on a 2.3 Ghz Qualcomm Snapdragon 800 processor and the second one is powered by a 1.8 GHz Nvidia Tegra 4 processor for China Mobile. The 16GB version of the Xiaomi MiPhone 3 will retail for CNY1999 ($327), while the 64GB version will sell for CNY2499 ($410). Here are some other technical specifications and features of Xiaomi’s latest flagship:

5 inch display with a resolution of 1080p, can be used with gloves

1.8GHz Tegra 4 processor

2.3 Ghz Snapdragon 800 CPU

Android Jelly Bean 4.2.1 with Version 5 of Xiaomi’s own highly-customizable MIUI firmware

13-megapixel camera from Sony and a 2-megapixel front-facing camera and, dual-LED flashlights, continuous shot feature:10 shots in one second

3050mAh battery

8.1 mm thin

2GB of LPDDR3 RAM

As of now, the Xiaomi smartphones are aimed at the Chinese market and it is really, really hard to get your hands on one of them if you’re outside China. Let’s hope that Hugo Barra will help Xiaomi bring their smartphones to the Western hemisphere.